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Written by Ron Rovtar, Managing Editor, the Stock Asylum
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Monday, 04 February 2008 |
 It seemed like a slam dunk of a business plan when it was announced in the spring of 2005. But a service that delivered digital stock photographs directly to computer graphics applications apparently did not live up to its potential and will be phased out over the next two months.
Adobe Systems said on this date its Adobe Stock Photos division will shut down April 1. Customer support will continue through June, according to James Alexander, who directs the division.
"We thought we went to market with a set of features and functionality that were going to improve workflow," said Alexander. "It was just not as compelling as we thought it was going to be."
Alexander said he knows of no third party image supplier planning to pick up the ball and offer photos through a similar channel. However, such an approach might be possible given the open-source nature of Adobe's graphics software, Alexander noted.
Continue reading ASP Closing Shop . . .at the Stock Asylum (SUBSCRIPTION REQUIRED)
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Written by Ron Rovtar, Managing Editor, the Stock Asylum
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Monday, 04 February 2008 |
Stock Artists Alliance (SAA) reported late last night that Photolibrary is apparently paying much or all of the $2.2 million it owes hundreds of photographers as a result of the acquisition of Index Stock Imagery 15 months ago.
The organization that represents stock photographers also said that figures the company is now supplying photographers match the numbers former controller Carlos Santos sent shooters in e-mails Nov. 11.
Santos was fired for sending the e-mails. At the time, Photolibrary Chairman Tim Moore characterized Santos' information as "stolen" and "manipulated."
Contacted by The Stock Asylum in early December, Moore said his company was aware that a problem existed with payments to photographers. He said, "We are doing the right thing."
Stock Artists Alliance said Index photographers who have not heard from the stock distributor should get in touch with the company. Photolibrary has said it lacks current contact information for many Index contributors.
Continue reading PL Paying Photographers . . .at the Stock Asylum (SUBSCRIPTION REQUIRED)
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Written by Stock Artists Alliance
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Monday, 04 February 2008 |
Photolibrary is at last moving to contact, report and pay their Index contributors outstanding debts the company assumed when it purchased Index Stock in October 2006.
Over the past few weeks, Index contributors have told SAA that Photolibrary is now acknowledging debts dating as far back as 2001. Contributors who received payment tell SAA the amounts match what was itemized on statements they received in November from Photolibrary's former controller, Carlos Santos. The company had described those statements as "invalid" and "worthless," and fired Santos for sending them to contributors. Now, Photolibrary is validating Santos by paying contributors the exact amounts detailed by him.
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Last Updated ( Monday, 04 February 2008 )
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Written by Ron Rovtar, Managing Editor, the Stock Asylum
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Friday, 01 February 2008 |
Getty Images fourth quarter was the strongest quarter of the year in terms of actual revenue, according to figures released after the stock market closed on this date.
But news from the fourth quarterly report of 2007 was mixed. Even as revenues increased to $218 million, Getty's net income fell by $3.9 million from the same period last year. Earnings per share dropped $0.04 on a year-over-year basis to $0.48.
Getty Images Chief Executive Jonathan Klein said he sees "tremendous progress" in the results.
“We experienced sequential growth in every product line compared to the third quarter of 2007 and continue to see strong progress on our many initiatives to stabilize our traditional creative stills business while growing revenue across all other areas of our business,” Klein said in a prepared statement.
Continue reading Getty Reports Growth . . .at the Stock Asylum (SUBSCRIPTION REQUIRED)
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Written by Getty Images, Inc.
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Thursday, 31 January 2008 |
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Company reports record revenue for the fourth quarter and full
year 2007
Sequential growth in every product line, including creative stills
SEATTLE, January 31, 2008 -
Getty Images, Inc. (NYSE:GYI), the world’s
leading creator and distributor of visual content and other digital
media, today reported results for the fourth quarter and full year ended
December 31, 2007.
Quarterly Highlights
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Revenue increased 7 percent over the fourth quarter of 2006 to $218
million
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Earnings per diluted share were $0.48
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Cash provided by operating activities was $78.7 million in the
quarter with cash and short-term investments of $364 million at year
end
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Last Updated ( Thursday, 31 January 2008 )
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